Following with the process of easing exchange obligations on exporters of services, the Argentina´s Central Bank recently issued Communication A 3167. The Communication eliminates the obligation to enter and settle foreign exchange from the export of services. From this communication, already effective, foreign exchange earnings from services exports will be freely available currencies, and are […]
On November 16, 2016, the Argentine National Agency for the Protection of Personal Data issued its Decision 60/16, which included the list of countries enjoying an adequate level of protection of personal data, and with which Personal Data can be exchanged. These countries are the European Union and members of the European Economic Community, the […]
Through the recent Communication A 6037 of the Central Bank, several restrictions limiting foreign exchange operations were annulled, and within this new arrangement new rules relating to the collection and payment of international services are included. Among the provisions related services the following are mentioned: Simplification of documentary requirements, providing that transactions will be processed […]
Through Comunicación A 6003 of the Argentine Republic´s Central Bank, dated July 1st, 2016, and effective from this very same day, the Central Bank extended to 365 calendar days the term to exchange into Argentine Pesos the foreign currency collected as payment of an export of services, or for the sale and transfer of “non financial […]
General Resolution (“RG”) # 8/16 of the Public Register of Commerce (“IGJ” as per its Spanish abbreviation) published in the Official Gazette on 04/29/16, amended Article 67 of the IGJ RG 7/15 that required the object of a society was unique, and annuled Section 68 of the same RG that empowered IGJ to require a company to […]
Through Communication A 5850 of Central Bank of Argentina, the initial rules for the normalization of the foreign currency exchange were enacted. Following is a summary of the most important provisions: Prior authorization from AFIP (Tax Authority) for the purchase of foreign currency is removed Individuals and legal entities are allowed to purchase foreign currency […]
Through Comunicacion A 5885 dated January 14, 2016, the Central Bank of Argentina eliminated the obligation to settle the foreign currency received a advanced payments and export financing . This means that the exporter may keep foreign currency received, without obligation to convert said currency into Argentinean Pesos before a financial institution in Argentina, and therefore […]
As per General Resolution # 3/16, the Public Register of Commerce (Inspección General de Justicia/ IGJ), published today in the Official Gazzette, it was set forth the public access to the files of commercial and civil entities registered before the Register. The General Resolution states that “The information existing in the Registry shall be made […]
Through Communication A 5899 of the Central Bank of Argentina, dated February 4, 2016, the obligation to settle foreign currency from the export of services was eased. Communication A 5899 contains a lot of provisions designed to correct and simplify the intricate tangle of exchange regulations in Argentina, and enables exporters of services to keep […]
The elimination of the foreign Exchange restrictions does not mean an automatic elimination of the obligation to exchange before Argentine banks the foreign currency collected as per export of services or licenses granted to a foreign licensee Given the release of the restrictions to carry out payments and transferences abroad, we call the attention that […]